Nintendo NX will be revealed in June, will “cannibalize” the 3DS and Wii U markets

Research firm Nomura Securities has published a report that makes several large claims about Nintendo’s next home console, the much discussed NX. According to the report, Nintendo is planning to unveil the concept of the console between March and May, and the actual console will be shown off for the first time in June.

Most likely, this year’s E3 Nintendo Direct will be focused on the console and the games you’ll be able to pick up for it. Analyst Junko Yamamura believes that the console will be made for sale before the end of 2016.

“We think the NX will start to boost operating profits in 18/3, when it will have been on the market for a full year and will have a line-up of software titles, which carry high operating margins.”

Nomura also made claims that further support the idea of the platform being a handheld/console hybrid. Much has been read into this speculation so far, and Nomura would go on to say that the NX will “cannibalize” the Nintendo 3DS and Wii U markets. The report caused Nintendo’s stock to drop 5 percent.

“We had previously thought that the NX launch would have only a limited impact on 3DS and Wii U sales as it is not being positioned as a successor to either console, but we have now altered our view because 3DS sales have been weakening a little recently, particularly in terms of software, as the machine enters its sixth year, and to factor in a harsher competitive climate and what happened to other existing consoles when new machines were launched in the past.

We still expect the NX to launch in 17/3. We have lowered our estimates for current consoles to reflect the present situation, fiercer competition, and what has happened in the past when new hardware is announced… We have reduced our operating profit forecasts for 16/3 by 5.7% and for 17/3–21/3 by 30.0–32.7%.”

The report sounds legit judging by how it falls into the Nintendo Direct schedule and rumors circulating the console’s design. Mark your calendars for June, because we might just learn what Nintendo will be all about in the years to come.